Should You Hire a Leasing Agent

How can a leasing agent help property owners? While there's no rule that a leasing agent must be used in a real estate transaction, there are certain advantages to it for the right situation. Learning more about what a leasing agent does allows rental property owners to decide whether their needs match the services an agent can provide.

What Is A Leasing Agent?
A leasing agent works to find and sign tenants to a lease agreement on behalf of a landlord or property owner. The leasing agent advertises for prospective tenants, interviews and screens potential candidates and does the paperwork in signing the tenants to a lease agreement. A leasing agent can also work for a leasing agent company, who in turn works with several rental organizations.

Advantages Of A Leasing Agent
For a landlord, the advantages of using a leasing agent include an incredible savings in time. The leasing agent will take care of the time-consuming process of locating, screening and signing tenants-a process that can often take weeks. The leasing agent is also the one who engages in negotiations with prospective tenants. Because you, the landlord, hire the leasing agent, she will always try to structure lease agreements to benefit and protect you, the client. For properties that have numerous rentals, such as an apartment complex or condominium community, a leasing agent can relieve the landlord of a lot of time and work. A bilingual leasing agent can provide an added advantage in working with prospective tenants whose native language is not English.

Disadvantages Of A Leasing Agent
One disadvantage of a leasing agent is that, by employing one, the landlord is removed from the leasing process. A subpar leasing agent may approve people who don't qualify or who have less than stellar references, just to get a rental property filled. Also, the leasing agents work on commission, so hiring a leasing agent will take some money out of the landlord's pocket. Another disadvantage of a leasing agent who works for an agency that has several other clients is that you many not feel you are getting 100 percent of the agent's time and talents. A good agent will please all clients, but a poor agent may focus on the properties that will earn the most commission.

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